Reforms, growth to drive up the yuan

Beijing's efforts to guide a stronger yuan have helped boost the currency, but only increased economic growth driven by sustained efforts to press ahead with reforms will be able to sustain this trend, according to analysts.

The People's Bank of China, the central bank, on Wednesday set the yuan mid-point at 6.7858 against the dollar, its strongest level since Nov 9.

The relative strong performance of the yuan against the dollar can be traced back to the beginning of May.